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Profit and Loss for Kids Worksheet

Entrepreneurship lesson 9: Cost price, selling price, profit and loss · Set 628 · 40 questions
TalentJR

Business tip (SP minus CP): Profit = selling price − cost price (when SP is more than CP). Loss = cost price − selling price (when SP is less than CP) — we always say “a loss of ₹…”, never a minus sign. Total profit = profit on one × number sold. Selling price needed = cost + profit wanted.

NameDateTime takenScore ___ / 40
  1. 1.🏷️ Cost price means… (a) what it cost you (b) the discount (c) what the buyer pays (d) the profit
  2. 2.True or false: “money spent to get it” is the cost price. (a) True (b) False
  3. 3.🏷️ Cost price or selling price: the price you sell at? (a) cost price (b) selling price
  4. 4.True or false: “the price you sell at” is the selling price. (a) True (b) False
  5. 5.Joseph makes 20 cupcakes at a cost of ₹19 each and sells all of them at ₹22 each. What is the total profit (in ₹)?
  6. 6.True or false: “the price you sell at” is the cost price. (a) True (b) False
  7. 7.It costs ₹48 to make one handmade card. On the last day Riya sells it for only ₹40. How much is the loss on one (in ₹)?
  8. 8.Arjun makes 13 fruit cups at a cost of ₹14 each and sells all of them at ₹21 each. What is the total profit (in ₹)?
  9. 9.One painted pebble costs ₹59 to make. Nisha wants a profit of ₹20 on each. What should the selling price be (in ₹)?
  10. 10.One fruit cup costs ₹31 to make. Rohan wants a profit of ₹18 on each. What should the selling price be (in ₹)?
  11. 11.It costs ₹56 to make one glass of chai. On the last day Gurpreet sells it for only ₹53. How much is the loss on one (in ₹)?
  12. 12.True or false: “cost of making one” is the selling price. (a) True (b) False
  13. 13.One handmade card costs Aarav ₹37 to make and sells for ₹34. Is that a profit or a loss? (a) Loss (b) Profit
  14. 14.It costs ₹46 to make one bag of popcorn. Vihaan sells it for ₹61. What is the profit on one (in ₹)?
  15. 15.One jute bag costs Lakshmi ₹41 to make and sells for ₹36. Is that a profit or a loss? (a) Loss (b) Profit
  16. 16.Rohan makes 15 fruit cups at a cost of ₹14 each and sells all of them at ₹22 each. What is the total profit (in ₹)?
  17. 17.One clay diya costs Gurpreet ₹45 to make and sells for ₹58. Is that a profit or a loss? (a) Loss (b) Profit
  18. 18.One cupcake costs ₹25 to make. Joseph wants a profit of ₹11 on each. What should the selling price be (in ₹)?
  19. 19.True or false: “the wholesale price paid” is the cost price. (a) False (b) True
  20. 20.🏷️ Cost price or selling price: the wholesale price paid? (a) selling price (b) cost price
  21. 21.📈 When is there a profit? (a) SP equal to CP (b) SP less than CP (c) SP more than CP (d) never
  22. 22.It costs ₹42 to make one friendship band. Dev sells it for ₹48. What is the profit on one (in ₹)?
  23. 23.🏷️ Cost price or selling price: what you paid for it? (a) selling price (b) cost price
  24. 24.True or false: “money spent to get it” is the selling price. (a) False (b) True
  25. 25.🏷️ Cost price or selling price: cost of making one? (a) selling price (b) cost price
  26. 26.It costs ₹31 to make one glass of chai. On the last day Diya sells it for only ₹27. How much is the loss on one (in ₹)?
  27. 27.True or false: “what you paid for it” is the selling price. (a) False (b) True
  28. 28.It costs ₹12 to make one jute bag. On the last day Aarav sells it for only ₹11. How much is the loss on one (in ₹)?
  29. 29.True or false: “what you paid for it” is the cost price. (a) False (b) True
  30. 30.It costs ₹17 to make one friendship band. Kavya sells it for ₹34. What is the profit on one (in ₹)?
  31. 31.It costs ₹43 to make one fruit cup. Gurpreet sells it for ₹49. What is the profit on one (in ₹)?
  32. 32.📉 When is there a loss? (a) always (b) SP less than CP (c) SP equal to CP (d) SP more than CP
  33. 33.One glass of chai costs ₹29 to make. Dev wants a profit of ₹15 on each. What should the selling price be (in ₹)?
  34. 34.It costs ₹39 to make one jute bag. Rohan sells it for ₹56. What is the profit on one (in ₹)?
  35. 35.💵 Selling price means… (a) what it cost you (b) the stall fee (c) what the buyer pays (d) the loss
  36. 36.🏷️ Cost price or selling price: the price on your board? (a) cost price (b) selling price
  37. 37.True or false: “the price on your board” is the cost price. (a) True (b) False
  38. 38.It costs ₹36 to make one cup of lemonade. On the last day Kavya sells it for only ₹29. How much is the loss on one (in ₹)?
  39. 39.It costs ₹39 to make one jute bag. On the last day Diya sells it for only ₹29. How much is the loss on one (in ₹)?
  40. 40.One handmade card costs Lakshmi ₹23 to make and sells for ₹24. Is that a profit or a loss? (a) Loss (b) Profit

Answer key

  1. what it cost you
  2. True
  3. selling price
  4. True
  5. 60
  6. False
  7. 8
  8. 91
  9. 79
  10. 49
  11. 3
  12. False
  13. Loss
  14. 15
  15. Loss
  16. 120
  17. Profit
  18. 36
  19. True
  20. cost price
  21. SP more than CP
  22. 6
  23. cost price
  24. False
  25. cost price
  26. 4
  27. False
  28. 1
  29. True
  30. 17
  31. 6
  32. SP less than CP
  33. 44
  34. 17
  35. what the buyer pays
  36. selling price
  37. False
  38. 7
  39. 10
  40. Profit

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